defaul definition

defaul means the failure to pay the outstanding arrears as defined in clause (w); and
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Related to defaul

  • Default means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default.

  • Defaulter means any person who owes arrears to the Municipality;

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • Senior Default means any Senior Payment Default or Senior Covenant Default.